We examine how firm and country heterogeneity shape the response of corporate investment in emerging markets to changes … the costs of external borrowing and (ii) a real options channel-reflecting firms' option values to delay investment. We … find evidence of the coexistence of both channels. Financially weaker firms reduce investment by more in response to higher …

The ifo Investment Survey asks firms in the German manufacturing sector about the importance of sales, technological … factors, finance, return expectations, and macroeconomic policy for their investment activity in a given year. We show that … these subjective investment determinants 1) capture economically what their labels suggest, and 2) have strong explanatory …

investment decisions made at the micro level of the firm. The study focuses on Asian emerging markets since they have widely …

on corporate long-term investment measured by a firm's R&D spending. We find robust evidence that the corporate R …&D investment level is significantly lower during the interim CEO appointment period. The negative association between R …

opportunities and investment demand. Financial development primarily affects firms' external financing constraints. (2) Large firms …